Blue Hills Bank (merged into Rockland Trust Company)
Blue Hills Bank reported total assets of $2.5 bn at Q1 2019, its last Call Report before it merged into Rockland Trust Company. The CET1 capital ratio at Blue Hills Bank was 15.96%, and the uninsured share of Blue Hills Bank was 37.30%. Source: FDIC Call Reports.
What sets Blue Hills Bank apart
Nothing in the latest data sets Blue Hills Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Blue Hills Bank?
The balance sheet of Blue Hills Bank at : assets $2.5 bn, deposits $1.9 bn, net loans $2.1 bn (loans equal to 107.19% of deposits). Securities make up 8.3% of total assets at Blue Hills Bank. Since , when Blue Hills Bank held $2.2 bn, its assets grew 15.4%. In the year to , deposits at Blue Hills Bank fell 8.2% while its total assets fell 6.5%. At , Blue Hills Bank employed 233 full-time equivalent staff across 11 offices, about $10.7 mn of assets per employee and $176.7 mn of deposits per office.
How much funding at Blue Hills Bank is uninsured?
At Blue Hills Bank, uninsured deposits (above the FDIC limit) made up 37.30% of domestic deposits at (+2.88 pp on a year earlier). In dollars, Blue Hills Bank estimated $724.8 mn of uninsured deposits.
Key facts, Q1 2019
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $1.9 bn | $2.1 bn (Q1 2018) | |
| Net loans and leases | $2.1 bn | $2.2 bn (Q1 2018) | |
| Loan-to-deposit ratio | 107.19% | 103.44% (Q1 2018) | |
| Tier 1 leverage ratio | 12.54% | 12.46% (Q1 2018) | |
| Total risk-based capital ratio | 16.75% | 16.65% (Q1 2018) | |
| Net interest margin | 3.19% | 2.90% (Q1 2018) | |
| Return on assets (ROA) | -0.43% | 1.03% (Q1 2018) | |
| Efficiency ratio | 187.39% | 59.09% (Q1 2018) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $2.9 mn | Narrowed by $5.7 mn | |
| Noncurrent loans to total loans | 0.50% | 0.44% (Q1 2018) | |
| Net charge-offs to average loans | 0.00% | 0.04% (Q1 2018) |
US rank of Blue Hills Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Blue Hills Bank: assets, deposits and loans
- Total assets $2.5bn
- Deposits $1.9bn
- Net loans $2.1bn
Capital and securities
The CET1 ratio of Blue Hills Bank stood at 15.96% in , +0.28 pp year on year. Low and high at Blue Hills Bank since : 15.03% () to 16.39% (). Equity capital of Blue Hills Bank at : $354.3 mn, or 14.2% of total assets. Blue Hills Bank also reported a total capital ratio of 16.75% for , and a tier 1 leverage ratio of 12.54%.
On held-to-maturity securities, Blue Hills Bank carried an unrealized loss of $2.9 mn at , equal to 0.8% of equity capital. The loss narrowed by $5.7 mn over the year. Its deepest point: $12.0 mn in .
Blue Hills Bank: capital ratios
- Total capital 17%
- CET1 16%
- Tier 1 leverage 13%
Blue Hills Bank: unrealized securities gains and losses
- Available for sale $0
- Held to maturity -$3mn
Profitability and loan quality
For the year to , Blue Hills Bank earned a return on equity of -3.20%; return on assets: -0.43%. Net interest margin at Blue Hills Bank: 3.19%, +0.29 pp in a year. Blue Hills Bank net income: -$2.8 mn, down 141.0% year on year. The efficiency ratio of Blue Hills Bank was 187.39%: about 187 cents cost per revenue dollar, against 56 cents at the median peer.
At , noncurrent loans were 0.50% of total loans at Blue Hills Bank; net charge-offs: 0.00% of average loans. Gross loans and leases at Blue Hills Bank: $2.1 bn at , against $2.2 bn at .
Blue Hills Bank: profitability
- Return on equity -3.2%
- Net interest margin 3.2%
- Return on assets -0.4%
Peer group of Blue Hills Bank
The peer group of Blue Hills Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 1 shares the charter type of Blue Hills Bank (state-chartered stock savings bank) and 1 has its head office in Massachusetts. Against them, Blue Hills Bank shows CET1 ratio 15.96% against a peer median of 11.80%, return on equity -3.20% against a peer median of 12.42% and uninsured deposit share 37.30% against a peer median of 26.18%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Revere Bank | State nonmember bank | MD | $2.5 bn | 11.30% | 11.13% | 23.86% | |
| Hinsdale Bank & Trust Company | National bank | IL | $2.5 bn | 11.30% | 12.87% | 28.50% | |
| Hingham Institution for Savings | State-chartered stock savings bank | MA | $2.5 bn | 12.31% | 18.10% | 30.79% | |
| Blue Hills Bank | State-chartered stock savings bank | MA | $2.5 bn | 15.96% | -3.20% | 37.30% | |
| Independence Bank of Kentucky | State member bank | KY | $2.5 bn | 12.03% | 12.89% | 14.28% | |
| Arrow Bank | National bank | NY | $2.4 bn | 13.56% | 11.97% | 22.95% | |
| Bank Rhode Island | State member bank | RI | $2.4 bn | 11.57% | 7.58% | 31.87% | |
. FDIC Call Reports.
Last eight quarters
Two years at Blue Hills Bank, to : assets $2.5 bn to $2.5 bn, deposits $2.0 bn to $1.9 bn, equity $320.0 mn to $354.3 mn. Staff 230 to 233.
| Metric | Q2 2017 | Q3 2017 | Q4 2017 | Q1 2018 | Q2 2018 | Q3 2018 | Q4 2018 | Q1 2019 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.5 bn | $2.5 bn | $2.7 bn | $2.7 bn | $2.7 bn | $2.8 bn | $2.8 bn | $2.5 bn |
| Total deposits | $2.0 bn | $2.0 bn | $2.1 bn | $2.1 bn | $2.1 bn | $2.2 bn | $2.2 bn | $1.9 bn |
| Bank equity capital | $320.0 mn | $325.3 mn | $327.9 mn | $335.8 mn | $344.0 mn | $352.8 mn | $350.5 mn | $354.3 mn |
| CET1 ratio | 16.24% | 15.98% | 15.40% | 15.68% | 15.32% | 15.20% | 15.03% | 15.96% |
| Return on equity (ROE) | 7.73% | 6.85% | 5.71% | 8.28% | 8.16% | 8.26% | 8.35% | -3.20% |
| Uninsured share of domestic deposits | 35.53% | 36.47% | 34.47% | 34.42% | 34.16% | 34.92% | 33.15% | 37.30% |
| Full-time equivalent employees | 230 | 232 | 237 | 246 | 245 | 239 | 236 | 233 |
| Number of offices | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Blue Hills Bank, oldest first; figures before and after each event are not like for like.
- . Merged into Rockland Trust Company (FDIC certificate 9712).
Questions and identifiers
What were the total assets of Blue Hills Bank?
Blue Hills Bank reported $2.5 bn at in its Call Report.
Is Blue Hills Bank the same as its holding company?
No. This page covers Blue Hills Bank, FDIC certificate 90160; BLUE HILLS BCORP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Blue Hills Bank profitable?
Blue Hills Bank reported net income of -$2.8 mn for the year to ; annualized return on equity: -3.20%. So no: Blue Hills Bank made a loss over these months.
When is data for Blue Hills Bank next updated?
Blue Hills Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Blue Hills Bank?
In the FDIC BankFind Suite record for certificate 90160, and in the Call Reports of Blue Hills Bank (RSSD ID 28406) at the FFIEC Central Data Repository.